<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

China

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
It is hard to think of an issue more likely to antagonise and enflame the wider Australian public than Chinese involvement in local agricultural land.
This is despite most only holding a hazy notion of either how agriculture as a sector works, or the mechanisms and reality of foreign direct investment. This area is laden with symbolism, whatever (and often despite) the underlying facts.
The tone of Treasurer Scott Morrison’s “preliminary decision" on the sale of the huge S. Kidman &amp; Co. estate to a predominantly Chinese-owned consortium, suggests it is much more likely the deal will not happen, even though the proposed buyers have until tomorrow to lodge an appeal.
Turning its back on investment from a source with the potential and importance of China would be a huge strategic decision for Australia. The Turnbull government may argue this is not what they have done with the Kidman decision.
But it certainly will be interpreted this way by some potential investors from China. It grates with the friendly messages being put out by, for instance, the large trade delegation that visited China in April. It threatens to show that this is all fluffy rhetoric and that, in many ways, as with the Huawei decision in 2012, Australia holds a hostile view to Chinese investment.
Land, particularly agricultural land, occupies an almost spiritual position in the Australian psyche. And the Kidman sale involved a significant chunk of it. The largest private estate in the country, it constitutes 1.3 percent of the whole Australian landmass. Even with Chinese investment becoming better known and increasing over the last ten years, this particular deal, at any time, would have been a contentious one.
The current political leadership in Canberra has shown they are as unwilling to break with the mould of the past and relinquish caution as their predecessors. Chinese President Xi Jinping may well have invited Australians to use “imagination and vision” over the bilateral relationship when speaking in Australian in late 2014, but his audience evidently hasn’t taken those words as having any application to an issue like this.
Chinese investment even outside of land has raised questions of just how closely the investors are linked to the Chinese state back home, what their real agenda is, and how much of a security issue they raise. A recent example was the Gillard government’s decision to prevent Chinese telecommunications giant Huawei from bidding for the National Broadband Network.
Land is about the most tangible thing there is to invest in. As Mark Twain once urged: “Invest in Land; they’ve stopped making it!” Any foreign purchase of land is often interpreted as an outsider buying a part of a country in a way that is fundamentally different from taking control of other parts of its economy. This is despite the fact that the latter may involve ceding far more influence than the former. Land is just so solid. Investment in it has a visibility and concreteness it enjoys in few other areas.
Morrison hasn’t spelled out in any detail the national security issues he may have based his preliminary judgement on. Regardless, there are two problems the Turnbull government now faces. The first is that despite much effort, no local potential replacement investor has been forthcoming. This is despite hopes expressed by Deputy Prime Minister Barnaby Joyce that one will eventually appear. If there were a queue of attractive counter bids, then the government would be in an easier position. In saying no to Dakang, they might be pushing away the only group at the moment that has the resources, desire and ability to buy an estate of this size.
And secondly, there is the larger political cost. For all the travails it is going through at the moment, China remains a global economic powerhouse. And an increasingly important part of that story is its outward investments. Chinese investment into the European Union has soared in the last 12 months. Australia has been a recipient for much of this global flow of outward money for several years now.
The problem is that for Chinese investors, the message they are getting from Australia is shifting from ambiguous (we like your investment, but only in certain areas) to ominously hostile. The Kidman decision reinforces this sense of hardening opposition to Chinese large scale investment.
If that does prove to be the way this decision is interpreted, and Chinese investors start to fall away, there currently appears to be no alternative source of new investment waiting in the wings.
Kerry Brown is professor of Chinese Politics; director, Lau China Institute, King's College London and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/kerry-brown-15537" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Kidman & Co: the mixed message for Chinese investors

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
In making a preliminary decision on the sale of S. Kidman &amp; Co to a Chinese consortium, the Treasurer Scott Morrison has shed some light on what the government defines as being in the “national interest”.
He describes the Chinese bid as being contrary to Australia’s national interes<a href="https://sjm.ministers.treasury.gov.au/media-release/050-2016/?utm_source=wysija&amp;utm_medium=email&amp;utm_campaign=Media+Release+-+Preliminary+decision+of+foreign+investment+application+for+purchase+of+S.+Kidman+%26+Co+Limited">t</a>, because:
“the form in which the Kidman portfolio has been offered as a single aggregated asset, has rendered it difficult for Australian bidders to be able to make a competitive bid.”
The decision was rationalised not on any of the pre-existing national interest test provisions, but rather the fact that Australian companies had struggled to make a competitive bid.
By doing this, the Treasurer has articulated a new policy objective, not previously part of the national interest test: that an Australian firm should have a substantial stake in the bidding process.
<h2>How is national interest defined?</h2>
The consortium bid for Kidman, the largest private land holding in Australia, was subject to approval by the Treasurer and the Foreign Investment Review Board (FIRB). All investments which are screened by the FIRB are subject to a “national interest test”.
The specific content of this test is not legislatively defined, and is decided on a case-by-case basis according to the judgement of the Treasurer. However, the FIRB does provide investors a set of ‘guidelines’, which outline five factors that are usually considered. These include: national security, competition policy, other Australian government policies and regulations (including environment and tax), the impact on the economy and community as a whole and the character of the investor.
There are also an additional set of six guidelines for the agricultural sector, which cover issues relevant for this industry such as land access, biodiversity, productivity and employment.
These guidelines were most recently re-issued in December 2015. However, they have remained relatively unchanged since the last major revision by the Rudd government in 2008, which was made in the wake of Chinalco’s intervention into a proposed BHP-Rio Tinto takeover. Significantly, none of these provisions express a requirement for local ownership in the agricultural sector.
In recent years, the overwhelming majority of investment applications assessed by the FIRB have passed the national interest test. In the relatively rare cases of rejection, it has consistently been for one of the above reasons. Examples include the ADM bid for GrainCorp <a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">(</a>rejected in 2013 on competition policy grounds<a href="https://jbh.ministers.treasury.gov.au/media-release/026-2013/">)</a>, and the Singapore Stock Exchange’s attempted merger with the ASX (rejected in 2011 on financial regulatory grounds).
However, Scott Morrison’s preliminary decision to oppose Dakang Australia’s bid for S. Kidman and Co. fundamentally reinterprets these guidelines. Despite the fact the sale process was found to be open and commercially sound, it has been rejected.
The clear message is that sale process now needs to be re-run – with the assets disaggregated – to ensure less-competitive local companies can win at least some of the assets.
This is akin to moving the goalposts when the outcome is not what you desired. It is also inherently protectionist. It rewards Australian firms who will now get a second chance to pick up a part of the Kidman portfolio.
In essence, the Kidman decision is a de facto introduction of a local ownership policy for agricultural land. Outside of sensitive sectors (such as media), Australia has not maintained any formal local ownership rules since 1992. This makes the Kidman rejection was of the most significant foreign investment decisions made in several decades.
It is clear that the Treasurer sees Australian bidders as crucial to ensuring national interests are looked after, what is still not clear is definition of “foreign interest.”
<h2>How is foreign interest defined?</h2>
The Kidman decision comes as a senate inquiry examining the effectiveness of the Foreign Investment Review Framework finishes. The <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/Foreign_Investment_Review/Report">final</a> and supplementary reports from the inquiry point to a lack of consistency and transparency of foreign investment decision making between the states and the commonwealth, particularly regarding sales of agricultural land to foreign interest.
At the moment the Foreign Acquisition and Takeovers Act 1975 deals with any foreign people or corporations that are seeking to acquire or to merge with a whole or a part of an Australian business. If a transaction exceeds a certain limit (different limits are applied to different industries) it’s reviewed by the Foreign Investment Review Board(FIRB).
However this Act doesn’t have a definition of foreign interest. This is crucial because since 1975, the picture of the world has dramatically changed.
According to ABS, until late 1980s, Australia’s investing partners were mostly persons and companies from developed market economies. Therefore, there could be little concern that Australia’s foreign counterparts were different to investing domestic entities.
These companies were either seeking profit or also seeking company control as direct investors and usually didn’t report to or take directives from any government on commercial decisions.
In late 1980s, new market economies emerged in place of both former communist countries, and reforming and rapidly growing third world nations. In some of those nations, such as most counties that replaced the former USSR, as well as in China, different forms of mixed private and public ownership in companies have been established with different roles and powers of governments in companies' decision making.
Despite of large scale privatisation, state and mixed ownership is still important and increasingly so in Russia. By 2014 China has become the 7th largest foreign investor in Australia, ahead of such countries as Germany, New Zealand, France. Meanwhile, ownership is rarely straight forward in China; and the countries' 500 global companies are mostly state-owned.
However, the 1975 Act does not require that the FIRB to look into the proportion of foreign government’s ownership in a company; involvement of a foreign government in company’s decision making (particularly, through government’s representation on the board of directors); government’s orders that limit company’s commercial independence; or compliance with legislation beyond that which normally regulates commercial activities.
This issue could be addressed by including foreign interest independence test into the FIRB process. Such a test needs to deal with the magnitude of sovereign ownership and sovereign involvement in foreign company’s decision making.
The idea of such a test was suggested on one of the submissions to the review, but did not find it’s way to the report.
Gennadi Kazakevitch is deputy head, Department of Economics, Monash University and can be contacted <a href="https://theconversation.com/profiles/gennadi-kazakevitch-90201" target="_blank">here</a>.
Jeffrey Wilson is fellow of the Asia Research Centre, Murdoch University and can be contacted <a href="https://theconversation.com/profiles/jeffrey-wilson-12717" target="_blank">here</a>.
Both are authors for The Conversation.
 
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Morrison’s ruling on Kidman & Co sale redefines the national interest test

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Chinese developer Aohua Sheng Le Property has paid $32.3 million to acquire an 1856 square metre Southbank site.
The site at 107-117 Queensbridge Street extends to City Road, within walking distance of Crown casino.
It was put up for sale in February by over 20 property owners who cobbled their neighbouring office, residential and car park holdings into one offering, according to the AFR. 
Sheng Le also owns the neighbouring site at 87-105 Queensbridge Street.
CBRE received 11 offers shortlisted to four parties, two based locally and two from China.
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jonathanchancellor-7SQnKwU6yx

Chinese developer Aohua Sheng Le Property buys in Southbank

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Aquis Australia, controlled by Hong Kong billionaire developer Tony Fung, is buying a 1700 sum beachfront site in Surfers Paradise for more than $23 million.
The 3464-3466 Main Beach Parade is one of the last major beachfront development sites in the area and was created through the amalgamation of apartments in the Pacific Point apartment building and two adjoining properties, according to the Courier Mail.
It will be Fung's third major acquisition of a site in Surfers Paradise in a year.
The 1700 sqm site has 70m of beach frontage.
“Beachfront development sites are increasingly rare or come with major hurdles to development,” Fung was quoted as telling the Courier Mail.
Fung also controls the ASX-listed Aquis Entertainment that owns and operates Casino Canberra and is currently progressing plans a for a large-scale real estate and entertainment project at Yorkeys Knob, north of Cairns.
Last year, he paid $55 million for the former International Beach Resort on the Surfers Paradise Esplanade where he is said to be planning a Q1-scale apartment tower.
Last week, a consortium comprising Aquis Australia, CCCC International Holding Ltd and Tandellan Group completed the acquisition of a 1.05ha site bordered by the Gold Coast Highway, Palm Avenue, Cypress Avenue and Surfers Paradise Boulevard for $40 million.
Fung said he and his partners were considering a range of development options for the site.
“It is the last, large-scale undeveloped site in Surfers Paradise and presents a tremendous opportunity to create something special that will compete for attention on the world stage,” he said.
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HK's Tony Fung acquires another Surfers Paradise site for $23 million

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Singapore-listed Chinese property developer Chiwayland has listed its 2878-square-metre development site in Parramatta, in Sydney's west.
It seeks buyers through Knight Frank and CBRE after buying it just over a year ago. 
There has been a rezoning of the land - and a potential floor space lift to 15:1 from 10:1 - since the site at 14-20 Parkes Street sold.
The Australian Financial Review has been told the site could potentially yield more than 380 units if the lift is successfully negotiated with council. 
Chiwayland International is the property division of conglomerate Chiway Group and is involved in residential and commercial development in China, including affordable housing, office buildings and education.
The company entered the Australian market in 2014. 
The acquisition of the site in Parramatta cost $27 million in January last year with then plans to develop a residential tower with about 350 apartments.
Picture courtesy of Parramatta City Council
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Chiwayland list Parramatta development site

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Chinese investment in Australia returned to positive growth in 2015, with commercial real estate making up for the drop in investment in the mining sector, says a new report by KPMG Australia and the University of Sydney.
The return of the mega deal, with seven investments of $500 million or more during the year, helped propel the total value of investment to US$11.1 billion ($15.09 billion), a 32.9 percent increase on the previous year in US$ terms (or a 59.5 percent increase in AU$).
This was the second highest inflow year for new Chinese investment into Australia, behind the previous peak driven by mining sector investment in 2008, says the latest Demystifying Chinese Investment in Australia, analysing Chinese outbound direct investment into Australia in 2015. 
On an international stage, Australia maintained its position as the second largest recipient of aggregated Chinese direct investment between 2005 and 2015, behind the United States, attracting a cumulative US$78.7 billion during the period.
In Australia, commercial real estate remained dominant for the second year in a row, accounting for 45 percent of the total deal volume. Commercial real estate investment grew to $6.85 billion from $4.37 billion in 2014. NSW attracted 94 percent of this investment, with investors focusing more on long-term development projects.
China Investment Corporation’s $2.45 billion purchase of Investa Office Portfolio was the major deal of the year in this sector.
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%2010.29.04%20AM.png" alt="" width="471" height="370">
This year’s report also includes new research analysing the sentiment and attitudes of Chinese investors towards the Australian market.
“Following two years of moderately declining Chinese investment, the resurgence of interest and the diversification by Chinese companies in 2015 is a strong endorsement of the attractiveness of Australia’s economy. Alongside continued interest in the NSW and Victorian commercial real estate sectors, there has been activity and major deals in renewables, agribusiness, and for the first time, healthcare,” said report co-author, Doug Ferguson, head of KPMG Australia’s Asia and International Markets.
Professor Hans Hendrischke, Professor of Chinese Business &amp; Management at the University of Sydney Business School commented, “Our research has also shown that, for Chinese companies looking to expand internationally, Australia is seen as a strong first port of call."
The year also saw a lowering of the Foreign Investment Review Board limits for mandatory approval for agricultural land acquisition and the rejection of an application from a Chinese investor to purchase S Kidman &amp; Co – illustrating the sensitive and very public debate over investment in this sector. Nonetheless, Chinese investors are expected to remain strongly interested in Australian agribusiness.
Chinese investment in Australian infrastructure sector continued during the year, with the major deal being the 99-year lease of the Darwin Port to the Landbridge Group for $506 million. The outlook continues to look positive, with Chinese companies attracted to the strong local pipeline of opportunities offering relatively safe returns and a longer term investment horizon for co-operation.
Overall, Chinese investors remain bullish on Australia, with 65 percent saying their 3 year outlook is positive, and 55 percent planning to increase their Australian holdings in 2016.
 
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Commercial real estate tops Chinese investment in Australia in 2015: report

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GUEST OBSERVER
Tourists from greater China (China and Hong Kong) totalled 108,400 in February (mainland China 89,100, Hong Kong, 19,300), ahead of New Zealand (102,600).
Tourist arrivals from mainland China and Hong Kong rose to a record 1,326,076 over the past year (up 23.5 percent over the year) and just shy of tourists from New Zealand (1,326,851 visitors over the past year).
Migration: Over the past year, net permanent and long-term arrivals to Australia totalled 259,710 – the lowest level in nine years (February 2007).
Tourist arrivals fell by 2.7 percent in February. And departures fell from fresh record highs down by 3.3 percent. The tourism data is important for airlines, travel groups, transport companies and retailers.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.38.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.38.48%20PM.png" alt="">
What does it all mean?
The China tourist boom continues to pay dividends. The number of tourists to Australia from China and Hong Kong combined exceeded well over 1.3 million in the past year – and is closing fast on the visitors from New Zealand. In fact the difference is only 775 tourists. And with China and Hong Kong tourist numbers continuing to grow at a 23 percent plus annual rate, there are more landmark results likely to be recorded over the next few months. It is even more remarkable when you consider that just over four years ago Chinese tourist numbers were around half those of New Zealand.
Clearly our number one tourist group is up for grabs with China and Hong Kong likely to take the top spot within a month. The new winners from the China boom are tourist operators and retailers rather than mining companies that benefitted in the first stage of the China boom.
Tourists from mainland China is fast closing in on 1.1 million in the past year, up 24 percent over the past year.
While some may fret about the slowdown in the Chinese industrial sector, the more forward-thinking analysts are focussing on the boost to Australian retailers from increased spending by Chinese consumers and the growing number of Chinese tourists.
The rebalancing continues to be taking place across the economy. No doubt the weaker Aussie dollar is helping to alleviate some of the pressures for the weaker investment story. And from the Reserve Bank’s standpoint there is nothing to do but to monitor the transitions to ensure that the process moves as smoothly as possible.
What do the figures show?
Overseas arrivals &amp; departures
Tourist arrivals  fell by 2.7 pe cent in February. And departures  fell from fresh record highs down by 3.3 percent. Arrivals are up 5.9 percent on the year with departures up 1.7 per cent.
In February, tourists from greater China (China and Hong Kong) totalled 108,400 (mainland China 89,100, Hong Kong, 19,300), ahead of New Zealand (102,600). Greater China passed NZ for the first time in September.
Over the past year a record 1,076,800 tourists came to Australia from China, up 23.6 percent over the year. Tourists from China and Hong Kong rose to a record 1,326,076 over the past year, up 23.5 percent over the year. Tourists from New Zealand totalled 1,326,851 visitors over the past year, but were up just 6.6 percent.
Over the past year, net permanent and long-term arrivals  to Australia totalled 259,710 – the lowest level in nine years (February 2007).
What is the importance of the economic data?
The Australian Bureau of Statistics releases data on overseas arrivals and departures  is produced monthly and is an indicator of the health of the tourism sector. The figures are also useful in understanding spending trends and tracking migrant numbers – an indicator with widespread implications for employment, housing and spending.
What are the implications for interest rates and investors?
Looking forward, not only will the fall in the Aussie dollar drive further tourism inflows, but it should provide an additional degree of support to the domestic tourism sector. Over time, the cheaper currency should make it more attractive to travel within Australia rather than overseas. Tourism has potential to join housing as a key driver of the Australian economy over the coming year, especially if the Aussie dollar falls further.
In-bound migration is holding just shy of the lowest levels in nine years, meaning that there is greater scope for unemployment to fall in the short-term before businesses have to start looking abroad for suitable staff.
The Reserve Bank will remain on the interest rate sidelines over the next few months.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.47.23%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%202.47.23%20PM.png" alt="" width="1129" height="366">
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a> 
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Chinese tourism boom, migration at nine-year lows: CommSec's Savanth Sebastian

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Marketing to Chinese consumers is a hot topic for all businesses across different sectors. A common misperception for businesses is that they need to be in China to sell to Chinese consumers.

This has prompted developers and agencies to invest in roadshows, exhibitions and seminars at China’s prime real estate and events, only to result in expensive failures. With the growing Chinese population in Australia, sellers need not look too far in reaching out to their prospective Chinese buyers.

At ACproperty.com.au we believe there are three reasons why you should begin your marketing locally before embarking on overseas marketing investments:

<h2>1. Chinese buyers rely on word of mouth recommendations from Australians</h2>

The most effective and efficient way of marketing to mainland Chinese buyers is to build a loyal following among the local Chinese communities, who can endorse your brand.

Most prospective mainland Chinese buyers have friends and relatives living in Australia. This is one of the biggest reasons that influences their decision to migrate to Australia. The first thing most of them will do is to speak their relatives living in Australia, to understand which area is suitable for their lifestyle and to gain recommendations on <a href="/developments">property investments</a>, <a href="/developers">developers</a> or real estate agents.

Glen Waverly High and Balwyn High are classic examples on the success of word of mouth recommendations. None of the schools have advertised in China, yet every prospective mainland Chinese buyers would have heard of Glen Waverley and Balwyn School zones.

Speaking from experience, ACproperty.com.au has been enjoying tremendous success as evident from our 65% growth of inbound traffic from China for the past 3 years, while mainly concentrating our marketing efforts on the local Chinese communities and student associations.

<h2>2. Chinese migrants in Australia are buying properties too</h2>

A significant amount of our web traffic is from high quality leads in Australia. Agents and developers alike will find a group of high conversion Chinese customers right under their noses.

The value in targeting this group grows exponentially once we realise that this is the same group that will be recommending your brand to their peers overseas.

<h2>3. Chinese buyers want authentic and unbiased local property information</h2>

A consistent piece of feedback we receive from our users is that when buying Australian property, they prefer to access an <a href="/">Australian site</a> (vs. Chinese-based sites) so they can access vital local Australian market experience. Our Chinese Concierge Team are constantly receiving calls from buyers wanting to validate information they receive from Chinese sources, which they perceive as biased or incomplete.

To successfully capture the Chinese market, developers and agents should first market to the local Chinese communities, cultivating a loyal following before expanding into overseas marketing. Not only are they potential buyers, they are also huge influencers of their overseas peers.

Chinese buyers also view Australian sites and sources as more trustworthy and knowledgeable. Australian agents and developers should leverage this inherent credibility to reach international customers and ensure their brand is top of mind among the Chinese community to successfully capture the Chinese market.

Esther Yong is the co-founder and director of ACproperty.com.au. She was recently named one of the most powerful women in property by Domain and was also the keynote speaker at Property Portal Watch in New York during January 2016.
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Esther Yong

The top three reasons why you should market locally to succeed in China

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The ANZ Banking Group has closed the door on some foreign buyers wanting to invest in Australian real estate using overseas funds.
The bank insists on original copies of untranslated supporting documents required for a loan application and tightened passport scrutiny, such as foreign applicants having to provide all stamped pages. 
It comes amid concerns by property developers that a decline in bank lending to investors, capital controls imposed in China and confusion about state planning policies, particularly in Melbourne, might slow investments.
Mortgage brokers claim the moves are targeting the Chinese market, which has spent billions of dollars on Australian residential property, particularly in Melbourne and Sydney.
The bank will not accept loan applications based solely on foreign income.
"Applications based on 100 per cent foreign income will not be accepted," the bank has told mortgage brokers.
For borrowers seeking loans based on more than 50 per cent of foreign income, there are measures about the size and source of funding.
There is a maximum loan-to-value ratio of 70 per cent, no loans in a company name, no guarantor arrangements and restricted construction lending.
There are tough controls on refinancing of existing loans, which involves borrowers attempting to get better terms and conditions for their loans.
Foreign salary earner applicants must pass six stringent documentation tests that include providing comprehensive employment contracts, tax returns, current visa documentation and original, untranslated supporting documents.
The Australian Financial Review says that expatriate Australians working overseas will not be impacted by the lending restrictions but will be required to provide the extra documentation.
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ANZ introduces stricter lending rules for foreign buyers

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Chinese tourists spent a record $8.3 billion during their stay in Australia in the year to December, according to Tourism Australia, a 45 per cent jump over the previous period and a key factor in revitalising the country's retail sector.
And with four Chinese airlines – China Southern, Air China, China Eastern, and Sichuan Airlines - delivering travellers to Melbourne’s Tullamarine Airport on 33 direct-to-Melbourne flights each week, Melbourne is reaping the benefits, according to new research by Savills.
Savills Australia’s Victorian Retail Service director Michael Di Carlo said the Chinese spend had contributed to reviving Melbourne’s CBD retail market which has shown a steady decline in vacancy over the last five years, according to Savills research.
"Chinese tourists are a very significant market for Melbourne retailers. They have strong links with Melbourne through a well-established Chinese residential and business community as well as a large Chinese student population," said Di Carlo.
"Australia’s lower dollar has also meant a much more favourable exchange rate in recent years and that has, perhaps more than anything else, driven what is a remarkable increase in the total tourist spend.’’ 
He said the recent influx of international fashion brands to Australia’s fashion capital had also been an important factor.
"Wealthier Chinese are keen buyers of luxury items and not averse to travelling abroad to take advantage of relatively inexpensive purchases,’’ he said.
According to a report by Shanghai-based consultants Fortune Character Institute, Chinese consumers are expected to remain the biggest spenders in the global market this year, accounting for 46 per cent of worldwide sales of luxury goods with 78 per cent of the purchases made overseas.
Estimations by the Chinese Ministry of Commerce put the average price of luxury goods in China at 45 per cent higher than Hong Kong, 51 per cent higher than the United States, and 72 per cent higher than France.
Savills Retail Services executive Jock Thomson said a boom in the pharmaceutical and health products trade in Melbourne’s CBD had also been driven by Chinese buyers on the back of concerns about the safety and reliability of those products produced in China.
He said the number of pharmaceutical and health product shops in Melbourne’s CBD had risen 46 per cent over past five years, according to Savills research.
"This is an extraordinary rise which cannot be explained by typical market trends, rather it is driven by issues that Chinese consumers have with home grown health products forcing them to look elsewhere for those products,’’ Thomson said.
He said recent leasing deals in the Melbourne CBD included Redhill Health at 117 Swanston Street and Great Earth, which has three stores in the Melbourne CBD, alongside the plethora of pharmacies along Elizabeth Street.
"Enquiry has increased markedly over the last 12 months particularly with prospective tenants looking to capitalise on what is a booming market. Walk into any of those pharmacies, and one will see Chinese tourists with baskets full of Australian vitamins and health-based products,’’ he said.
Thomson said the rise in Australian health products maker Blackmore’s nearly ten-fold share price to to $217.98 on December 21, 2015 from $20.51 on December 20, 2013 had apparently much to do with the lucrative Chinese market, which makes up more than a third of Blackmores’ sales.
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